Ethereum has now surpassed the 4,300 USD mark, while Bitcoin Dominance is decreasing, raising alarms about a potential 'flippening' between the two largest cryptocurrencies in the world.
In the context of Ethereum's strong price increase and the growing interest from institutions, many experts predict that the power shift from Bitcoin to Altcoins, particularly Ethereum, may continue in the near future.
MAIN CONTENT
Ethereum surpasses the 4,300 USD mark, while Bitcoin Dominance drops sharply, laying the groundwork for the 'flippening.'
On-chain data and OTC activities show that large cash flows continue to favor Ethereum, driving the increase and the liquidity scarcity scenario.
Experts and leaders in the industry suggest that Altcoin Season is beginning to take shape, with the trend of capital rotation continuing to be evident.
Ethereum surpasses 4,300 USD: What is the significance of this development?
Ethereum has made a strong recovery and reached the 4,300 USD mark, asserting its leading position in the new growth wave in the cryptocurrency market.
This event not only helps ETH approach historical price peaks but also establishes a positive mindset for the entire Altcoin ecosystem. The significant price increase of Ethereum has led many investors to view this as a sign of a new comprehensive growth cycle, especially with strong support from institutional cash flow. Additionally, on-chain data shows significant asset migration from large wallets to OTC exchanges, leading to a short-term supply shortage, contributing to the soaring price of Ethereum.
This development raises expectations for a new Altcoin season. When Ethereum achieves what few coins can: maintaining strength and attracting the attention of both the whale community and large investment funds.
What is Flippening? Can Ethereum surpass Bitcoin next year?
Flippening is a term referring to the moment Ethereum surpasses Bitcoin to become the number one cryptocurrency in the world by market capitalization.
This term first emerged from industry experts witnessing Ethereum continuously close the market cap gap with Bitcoin. This event is seen as a 'historical milestone' because Bitcoin has held the leading position since the cryptocurrency industry was established. In the context of Ethereum's strong price increase, solid technical indicators, and growing interest from institutions, more and more analysts believe that the Flippening era – Ethereum surpassing Bitcoin – may occur sooner than expected.
In-depth reports like Glassnode and analysis from major names on X (Twitter) are reinforcing confidence in this trend, as Ethereum's market cap is increasingly narrowing compared to Bitcoin, while accumulated cash flow into Ethereum is growing significantly.
'Flippening may no longer be a distant dream but has become a practical discussion topic among institutional investors.'
Lark Davis, Analyst and Expert in Cryptocurrency Markets, 2025 Source
Bitcoin Dominance drops: What does it mean for the entire cryptocurrency market?
Bitcoin Dominance has dropped to 60.74%, signaling the capital shift from Bitcoin to the Altcoin group.
According to the latest data from TradingView and analysis from Lark Davis, significant drops in this index in the past often opened up growth cycles for Altcoins, especially when combined with strong market cap increases of Ethereum. The decline in Bitcoin Dominance indicates that capital is beginning to move away from Bitcoin, facilitating the growth of Altcoins and boosting the chances of initiating an 'Altcoin Season.' This simultaneously signals that investors are gradually diversifying their portfolios, seeking higher yields from riskier assets in the ecosystem.
Data from Glassnode also shows that the growth rate of Net Capital Change of Ethereum is significantly outpacing Bitcoin, further reinforcing the notion of a new cycle for Altcoins and the potential gradual reduction of Bitcoin's market control.
'Every time Bitcoin Dominance drops sharply like in the current phase, Ethereum often sets new historical price peaks.'
Lark Davis, cryptocurrency market analyst, 2025 Source
What factors are supporting the strong rise of Ethereum?
Technical indicators, institutional cash flow, and the interest of Ethereum whales are key factors helping ETH grow strongly.
In the past 24 hours, Ethereum has traded around 4,298 USD, up 1.72%, accompanied by large buy orders on OTC desks indicating that whales continue to accumulate ETH. The event of Binance, Coinbase, and Bitstamp transferring a total of 160 million USD worth of ETH to Galaxy Digital in one hour is a prime example. Additionally, according to data from Crypto’s R Us, the amount of ETH is increasingly scarce on OTC desks – places serving the extremely large buying and selling needs of individuals and institutions, reflecting strong buying pressure compared to the actual supply in the market.
Another highlight is that the asset of Ethereum co-founder, Vitalik Buterin, has surpassed 1 billion USD, highlighting the concentration of cash flow into this coin amidst reports of liquidity scarcity. Major financial institutions continue to express strong support for Ethereum, considering it a strategic asset necessary for building a long-term cryptocurrency investment portfolio.
'Ethereum is attracting unprecedented attention from institutions. This sign often appears when the market is about to enter a phase of sustainable growth.'
Milk Road, cryptocurrency information platform, 2025 Source
Large cash flows are shifting: Are whales and institutions targeting Ethereum?
The activities of OTC desks and large transfers are clear evidence of the trend of 'large money flowing into Ethereum.'
When transactions from major exchanges like Binance, Coinbase, and Bitstamp reach 160 million USD in ETH within just one hour, the market has witnessed a remarkable growth in demand from institutions and whales. The largest transaction reached 4,500 ETH, equivalent to nearly 18.99 million USD. Moreover, as the selling space for ETH on OTC desks becomes increasingly scarce, short-term supply is becoming more limited. This practice leads to ETH prices being pushed higher due to a lack of supply, especially when large buying demands show no signs of stopping.
Moreover, financial institutions and large investment funds continue to steadily increase their ETH holdings in portfolios, despite significant market fluctuations, raising expectations for a long-term holding trend rather than just short-term speculation.
Will Altcoin Season come this year?
Although the Altcoin Season Index currently stands at 38/100, the market still leans towards Bitcoin, but experts predict that the Altcoin wave will soon explode.
According to a report from CoinMarketCap, the Altcoin Season Index is currently at 38 – meaning that capital is still favoring Bitcoin over other Altcoins. However, many top experts predict that the 'true Altcoin Season' explosion has yet to occur, but the light has appeared at the end of the tunnel. Some observations suggest that this growth cycle often starts when capital moves away from Bitcoin and spreads to Ethereum, then transitions to large-cap Altcoins, followed by mid-cap and small-cap Altcoins.
'The Altcoin season has not truly begun. Smart money is moving from Bitcoin to Ethereum, then to large-cap Altcoins, and finally to small-cap Altcoins. The joy with Altcoins has just begun – and could last until November.'
Joao Wedson, Founder & CEO of Alphractal, 2025 Source
This perspective is also supported by many international market analysis organizations, believing that capital will continue to flow into Altcoins if Ethereum surpasses its ATH. Particularly, according to historical trends from previous growth cycles, when Ethereum establishes a new historical peak, it often triggers a strong boom for the entire Altcoin market.
Capital rotation cycles: What is the next scenario for Bitcoin and Ethereum?
The capital rotation cycles between Bitcoin, Ethereum, and Altcoins are likely to continue in the near future.
According to Ted Pillows, a partner at OKX, a notable scenario is that cash flow will push Ethereum to establish a new peak, initiating a mini Altcoin season. After that, this capital will return to Bitcoin, aiming to conquer the price milestone of 140,000 USD. This indicates that large investors and institutions often benefit by correctly identifying the timing of capital rotation between coin groups, thereby optimizing profits. Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, also confirms that the trend of capital moving away from traditional coins (like Bitcoin and Ethereum) to seek riskier assets in the Altcoin ecosystem is becoming increasingly evident, especially during peak market periods.
'When Ethereum continuously sets new ATHs, it will trigger the Altcoin season. After that, the capital tends to return to Bitcoin, aiming for the target of 140,000 USD.'
Ted Pillows, Partner at OKX, 2025 Source
What challenges are institutional and individual investors facing?
Liquidity is scarce in the OTC market and continuous price volatility poses a significant challenge for both institutional and individual investors.
In the context of large continuous cash flow accumulating ETH, the supply on the OTC desk has significantly decreased, contributing to pushing ETH prices higher but simultaneously making it difficult for large buy orders to be executed quickly at reasonable prices. The advantage will belong to organizations, investment funds, or whales that can access a large supply before the market transitions to a true explosive phase. For individual investors, the risk of FOMO (fear of missing out) and high price volatility is a present obstacle if there is no reasonable risk management knowledge.
This lack of local liquidity has previously appeared in major bull runs, potentially leading to strong pump effects, extending the price surge effect for the entire Altcoin market for several consecutive weeks.
Comparison: Ethereum leads the Altcoin season – Lessons from previous cycles?
History shows that every time Ethereum explodes and sets a new ATH, it leads to a strong revival of the entire Altcoin market.
In cryptocurrency growth cycles like 2017 and 2021, when Ethereum's price breaks out of the old ATH region, the Altcoin market almost immediately grows in response, with average yields of mid-cap and small-cap Altcoins far exceeding both Bitcoin and Ethereum at that time. This scenario is reinforced by historical data from CoinMarketCap and Glassnode, as well as assessments from international experts on capital rotation trends. This explains why many institutions, investment funds, and professional traders closely monitor Ethereum's price increase signals to predict the explosive point for the Altcoin market.
Cycle Index 2017 Cycle 2021 Forecast 2025 ATH of Ethereum 1,400 USD 4,800 USD 5,000–8,000 USD (according to Glassnode analysis) Average Altcoin Return x10–x50 times x7–x30 times Depending on the project, can be multiple times Bitcoin Dominance after Altcoin Season 35% 39% Below 45% (according to CoinMarketCap forecast)
Strategic insights: What should investors do in this new era?
The consensus among experts, organizations, and historical data emphasizes the importance of flexible asset allocation between major coin groups and Altcoins.
In the context of Ethereum continuing to assert its strength, declining Bitcoin Dominance, and Altcoins being seen as a new destination for large cash flows, investors should particularly prioritize risk management, limit FOMO, and frequently update market developments through quality reports from Glassnode, CoinMarketCap, and other reputable analysis sources. Waiting for the real signal of an Altcoin Season explosion may be a reasonable strategy for most investors, as evidenced by previous growth cycles.
'Those who patiently wait for capital to flow strongly into Altcoins right after Ethereum's ATH usually reap impressive results after major growth cycles.'
Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, 2025 Source
Looking back: The difference between Bitcoin and Ethereum during the Flippening.
Bitcoin still retains its symbolic role, but Ethereum is increasingly gaining an edge in technological innovation and practical applications.
Although Bitcoin is the first and largest cryptocurrency by market capitalization, Ethereum has been building an ecosystem with a rapidly growing number of dApps, DeFi projects, NFTs, and Layer 2 applications, continuously leading the DeFi revolution. If the 'flippening' scenario occurs, this will reshape the industry structure, as the central role gradually shifts towards Ethereum with its smart contract processing capabilities, superior innovation speed, and increasingly refined scalability.
Moreover, the PoS consensus allows Ethereum to save energy, increasing its attractiveness to institutional investors in long-term strategies, including global ESG investment funds.
Forecast: How will Ethereum reshape market order?
Ethereum's event of surpassing the 4,300 USD mark could mark the beginning of a new dominance cycle in the cryptocurrency market.
International organizations like Glassnode and CoinMetrics assert that if the trend of institutional cash flow remains strong, and large transaction volumes still favor Ethereum-related products, the likelihood of ETH surpassing Bitcoin in market capitalization (flippening) is just a matter of time. Additionally, forecasting models based on comparisons with previous cycles indicate that the growth rate of Ethereum in terms of practical applications (DeFi, NFT, Web3) far exceeds that of Bitcoin, repositioning the leading order in the cryptocurrency industry.
This opens up unprecedented opportunities for investors – but simultaneously requires vigilance, understanding, and continuous updates in the face of strong market fluctuations.
Frequently Asked Questions
What does Ethereum surpassing 4,300 USD mean in the current context?
This is a significant milestone proving the strength of Ethereum, affirming the wave of institutional investment as well as large cash flows favoring ETH while the market awaits 'Altcoin Season.'
What is Flippening and is it likely to happen soon?
Flippening refers to the situation where Ethereum surpasses Bitcoin in market capitalization. According to many experts like Lark Davis, this scenario is increasingly close to reality as institutional cash flow and Ethereum whales increase significantly.
What does the decline in Bitcoin Dominance mean?
The sharp decline in this index indicates that capital is shifting from Bitcoin to the Altcoin group, paving the way for stronger growth of coins outside of Bitcoin.
What has caused Ethereum to attract large cash flows recently?
Factors include positive technical indicators, large accumulation activities on OTC desks, local supply shortages, and strong support from global investment institutions.
What is Altcoin Season and when does it occur?
Altcoin Season is a vigorous growth cycle of Altcoins compared to Bitcoin. Based on expert analysis, this cycle may kick off after Ethereum reaches a new ATH and last until the end of the year.
Are there any notes to consider when investing during this capital flow shift?
Investors need to focus on risk management, avoid FOMO, and prioritize updating in-depth reports from Glassnode or CoinMarketCap to clearly understand entry-exit strategies.
How to recognize capital rotation between coin groups?
Typical signs include a clear change in Bitcoin Dominance, large capital flowing into ETH, and price/interest rate volatility figures of large and small-cap Altcoins.
Source: https://tintucbitcoin.com/ethereum-vuot-4-300-usd-flippening-gan-ke/
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